Today, the price of Toncoin $TON is $5.29, with a 24-hour trading volume of $310,691,105. Over the past 24 hours, TON has lost 2.78% of its value, but occupies a high 9th position on CoinMarketCap, with a market capitalization of $13,407,113,347. There are 2.53 billion coins in circulation, which is about half of the maximum supply.
Analysis of the current state of TON
The last month has been quite volatile for TON. Since "Bloody Monday" on August 5, when the price fell to $5.00, Toncoin quickly recovered its positions, reaching above $7.00. This growth demonstrates that despite the correction, the market still believes in TON's potential and its long-term prospects.
Trading volumes and liquidity
Trading volume is a key indicator of interest in an asset. In July 2024, the average daily trading volume for TON exceeded $500 million, indicating a high level of investor confidence and growing liquidity. Over the past 24 hours, the trading volume was $520 million, up 31.50% from the day before. This confirms that interest in Toncoin continues to grow.
The circulating supply is 2.52 billion coins out of a total supply of 5.11 billion, creating enough liquidity for trading.
Reasons for the growth of trading volumes
1. Rapid development of the ecosystem: New decentralized applications and protocols based on TON $NOT $HMSTR #DOGS stimulate interest in the coin.
2. Listing on top exchanges: TON's availability on major cryptocurrency platforms increases its visibility and the number of traders.
3. Partnerships and integrations: Tech companies and blockchain projects are increasingly choosing TON for their platforms, which supports sustainable interest in the asset.
Price trends and forecast
Toncoin has gone through many trials since its inception. The minimum price was recorded on September 20, 2021 at $0.39, and in 2024, the asset showed significant growth, reaching a maximum of $8.24 in June. This is equivalent to an increase of almost 1800% since its launch.
Factors Affecting the Price of TON
1. News and Announcements: Every significant update or new partnership causes an immediate reaction in the market.
2. State of the cryptocurrency market: TON correlates with the dynamics of such giants as Bitcoin and Ethereum.
3. Growing network usage: The increase in the number of users and decentralized applications strengthens TON's position in the market.
Key success factors for TON
Telegram Integration: TONcoin is closely linked to Telegram, making it accessible to the messenger’s 900 million users. Sending and receiving tokens in the chat increases the coin’s popularity.
Earnings from advertising: In 2024, Telegram introduced an advertising platform where payment is made in TON, which stimulates the use of the coin.
Support for Web3 projects: The TON Foundation has invested $124 million to support decentralized projects, attracting developers and strengthening the network's development.
- Partnership with Tether: The ability to send stablecoins via Telegram makes TONcoin a useful asset for everyday transactions.
Forecasts for the future
If TON continues to expand its ecosystem and user base, the price may surpass its historical maximum by the end of 2024. Even if the price stabilizes at $6-7, this will indicate the maturity of the project and its sustainability in the market.
As with any other crypto asset, TON has its risks. In the event of negative news or global economic changes, the price may temporarily roll back to the $3.50-4.00 level.
Conclusion
Toncoin continues to show impressive results, demonstrating growth in trading volumes and positive price dynamics. The future of the project looks promising, and its role in the world of decentralized technologies is only getting stronger.
#NOT🔥🔥🔥 #TON #HMSTR
